The Significance of Project Management

The Significance of Project Management

Charles Brooks

Project Management; INF 410

Instructor: Ken Edick

March 9, 2015

Introduction

        On a global scale project management is rapidly becoming a significant fixture.  Within an extremely aggressive business market, organizational approaches and methods have been modified to suit a business and/or company’s capacity to better their principle competitors. Many organizations are frequently confronted with abnormal circumstances and revisions; to include instances of reduction, enhancements, downgrades and industrial variations. There are a plethora of circumstances that may call for an organization to utilize and combine various means both native and foreign to make an effort that is presumed to deliver some sort significance to the business. Approaches relating to project management are an ever progressing professional method that constantly attempts to get the best results from maximum utilization of its reserves as these determinations convert into requirements. The content and information within this document will present a synopsis over “Project Management”, its fundamental determinants and purposes and how significant applicable project management is the business world.

Projects are recognized as being a short-term or provisional effort embarked upon to complete a specific task, service or product with a distinct beginning/end and detailed goals that when accomplished, denote its completion.  The purpose and function of understanding abilities and approaches to action projects successfully and proficiently to link or surpass sponsor’s desires and hopes from a project is known as project management. Our text states that, “It's a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets.” (Larson & Gray , 2014) This summary will cover various facets of a project’s lifespan, project development and how analytical thinking and exploration play a significant role in its initial stages.  Project Management has many vital utilities such as team building, active sponsorship and leadership. There are also several principle implements and designs that most project management occur, like Work Breakdown Structures which is something that will also be reviewed.

Within Amy Ohlendorf’s article Conflict Resolution in Project Management states that, “Project Management is a practical method to attaining determined outcomes relating to an identified window of time with detailed reserves.” (Ohlendorf, 2001) The responsibility of a Project Manager is to manage those reserves with the aim of employing abilities, comprehension and proficiency to the anticipated conclusion.  More often than not this is more challenging than it may appear, predominantly when several individuals are being held liable for accomplishing similar jobs.  Identifying the approach and its vital direction regarding projected outcomes is tremendously significant. Presently within the world of business, the magnitude of efficient project management matches the efficient utilization of an organizations reserves and supplies to complete a particular job or mission that will enhance the organization’s overall future worth.  Organizations can potentially misuse time, funding and support on a project which can have very ill effects, or they can successfully use project management methods developed and refined over a period time and are recognized as the best  way of employing this process to get the best results possible without misusing resources.